Today’s competitive business world demands innovation. Corporations need to innovate to inspire, compete and survive. However, the burden of innovation has largely rested on startups. Large corporations and established businesses are expected to out-think their rivals, but more often we see that they rely on minor product updates or acquisitions in place of home-grown innovation.
Startups are moving too fast these days for a complacent strategy to be enough. No longer can companies and business leaders rely on slow-moving corporate or product strategies to withstand the attack from disruptive upstarts. Corporations need to take a hard look at the challenging business landscape that surrounds them, identify internal weaknesses and create action plans to truly innovate and empower employees with the right tools to deliver success.